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Charter One Bank / scam charges

1 United States Review updated:
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The policy of this bank is to set accounts up automatically as follows: If you attempt rouse your debit card for a purchase hat is greater than your account balance, the transaction is completed and $39.99 is deducted from your account as a service charge. They mail a notice of insufficient funds that you receive, presumably, long after you have made other transactions that each receive the same deduction. They do not call you until a week or two has passed. Then, all of those little transactions add up to hundreds of dollars in service charges.

This happened to me. Upon calling customer service I was told that one of these charges would be forgiven me 'as a courtesy.' I spoke to this agent's superior. This person forgave me another two ISF charges. I still owed close to $300 in service charges.

Had I been declined the first transaction I would have used a different card and deposited money in my account. Instead, I was left ignorant of all of the $40 charges I was accruing on $7 purchases.

Very few people want to be charged $40 for the service of being lent a negligible amount of money on their bank cards. There is a good deal of dishonesty in a policy of giving everyone this dubious service without making sure the customer is well aware of the nature of the service.

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  • Pi
      12th of Mar, 2009
    +1 Votes

    Being irresponsible is not the bank's fault. The bank is not responsible for negligence on accounts. He/she should not assume that the bank keeps track of his/her account for him/her. This person, for example, neglected to keep track of what he/she spends vs what he/she actually have in the account. If a register book was kept, this would've been prevented. Why blame the bank for being irresponsible or for spending money he/she do not have in the first place? This person's comment stated that if declined the transaction, he/she would deposit the money in the account. So, if this person had the cash in his/her pocket in the first place, why would he/she use the card if he/she knows that there isn't enough funds to cover the transaction/s? And if this person was planning on using the card, then why wasn't the deposit made before the purchases? See? He/she should not blame the bank for his/her irresponsibility. If funds were in the account, then there should be no reason why fees will be assessed if card is used. Next time, try to keep track of your spending habits. Try using a register book, it actually helps.

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